Stock Track | STMicroelectronics Soars 5.10% in 24 Hours as Berenberg Lifts Target Price to €68

Stock Track
Jul 27

STMicroelectronics NV (STM) experienced a sharp 5.10% surge over the past 24 hours, with the stock trading at $54.23 per share during the overnight session.

The rally was fueled by a significant target price upgrade from Berenberg, which raised its outlook from €53 to €68, representing an upside of approximately 28%. This vote of confidence helped the stock rebound from selling pressure that followed its Q2 earnings report on July 23, where despite beating estimates on both earnings and revenue, the company's third-quarter revenue guidance came in below analyst expectations.

Berenberg's upgrade reflects strengthened institutional confidence in STMicroelectronics' cyclical recovery and AI-driven growth prospects. The company has been seeing robust order momentum and tightening supply across multiple product categories, and recently raised its AI data center revenue target to over $1 billion, signaling an accelerating recovery trajectory.

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